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Apple (AAPL) Earnings Yield (Joel Greenblatt) % : 4.50% (As of Mar. 2024)


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What is Apple Earnings Yield (Joel Greenblatt) %?

Apple's Enterprise Value for the quarter that ended in Mar. 2024 was $2,667,549 Mil. Apple's EBIT for the trailing twelve months (TTM) ended in Mar. 2024 was $120,004 Mil. Apple's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2024 was 4.50%.

The historical rank and industry rank for Apple's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:

AAPL' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 3.04   Med: 7.24   Max: 15.87
Current: 3.63

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Apple was 15.87%. The lowest was 3.04%. And the median was 7.24%.

AAPL's Earnings Yield (Joel Greenblatt) % is ranked better than
53.24% of 2485 companies
in the Hardware industry
Industry Median: 3.11 vs AAPL: 3.63

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Apple's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2024 was 20.94%. The Forward Rate of Return uses the normalized Free Cash Flow of the past seven years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.


Apple Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Apple's Earnings Yield (Joel Greenblatt) % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Apple Earnings Yield (Joel Greenblatt) % Chart

Apple Annual Data
Trend Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23
Earnings Yield (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.92 3.52 4.69 5.36 4.34

Apple Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Earnings Yield (Joel Greenblatt) % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.29 3.68 4.34 4.00 4.50

Competitive Comparison of Apple's Earnings Yield (Joel Greenblatt) %

For the Consumer Electronics subindustry, Apple's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Apple's Earnings Yield (Joel Greenblatt) % Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Apple's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Apple's Earnings Yield (Joel Greenblatt) % falls into.



Apple Earnings Yield (Joel Greenblatt) % Calculation

In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.

Apples Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Sep. 2023 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=117669/2711865.621
=4.34 %

Apple's EBIT for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $120,004 Mil.



Apple  (NAS:AAPL) Earnings Yield (Joel Greenblatt) % Explanation

Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.

Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.


Be Aware

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

Forward Rate of Return (Yacktman) % based on Don Yacktman's definition is a better measure of the expected rate of return for a stock.


Apple Earnings Yield (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of Apple's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


Apple (AAPL) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Apple Inc (NAS:AAPL) » Definitions » Earnings Yield (Joel Greenblatt) %
Address
One Apple Park Way, Cupertino, CA, USA, 95014
Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone makes up a majority of the firm sales, and Apple's other products like Mac, iPad, and Watch are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, like streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors while working with subcontractors like Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with a majority of sales coming indirectly through partnerships and distribution.
Executives
Chris Kondo officer: Principal Accounting Officer 1 INFINITE LOOP, CUPERTINO CA 95014
Katherine L. Adams officer: SVP, General Counsel APPLE INC., 1 INFINITE LOOP, CUPERTINO CA 95014
Luca Maestri officer: Senior Vice President, CFO 1 INFINITE LOOP, CUPERTINO CA 95014
Jeffrey E Williams officer: COO ONE INFINITE LOOP, CUPERTINO CA 95014
Deirdre O'brien officer: Senior Vice President ONE APPLE PARK WAY, CUPERTINO CA 95014
Timothy D Cook director, officer: Chief Executive Officer C/O APPLE INC, ONE INFINITE LOOP, CUPERTINO CA 95014
Arthur D Levinson director C/O GENENTECH INC, 1 DNA WAY MS 49, SOUTH SAN FRANCISCO CA 94080-4990
Alex Gorsky director JOHNSON & JOHNSON, ONE JOHNSON & JOHNSON PLAZA, NEW BRUNSWICK NJ 08933
Monica C Lozano director
Angela J Ahrendts officer: Senior Vice President 1 INFINITE LOOP, CUPERTINO CA 95014
Johny Srouji officer: Senior Vice President 1 INFINITE LOOP, CUPERTINO CA 95014
Craig Federighi officer: Senior Vice President 807 11TH AVENUE, SUNNYVALE CA 94089
Daniel J. Riccio officer: Senior Vice President 1 INFINITE LOOP, CUPERTINO CA 95014
Philip W Schiller officer: Senior Vice President C/O APPLE INC, ONE INFINITE LOOP, CUPERTINO CA 95014
Susan Wagner director C/O BLACKROCK, INC., 40 EAST 52ND STREET, NEW YORK NY 10022

Apple (AAPL) Headlines

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